Legal Opinion
E. Roy Albright v. United States
Court of Appeals for the Fifth Circuit
Decided September 25, 1962No. 19243_1PublishedCited by 7 opinions
1Opinion of the Court
RIVES, Circuit Judge.
Construing an inter vivos trust agreement, the district court held 1 that the trustee had discretion to withhold income from the settlor’s four minor granddaughters so that the gifts of income were gifts of future interests in property not entitled to gift tax exclusions under Section 2503(b) of the Internal Revenue Code of 1954. 2
The controversy is confined to the gifts of income and does not extend to the gifts of the principal of the trust.
“The disposal of property in trust under an agreement deferring distribution of principal may be regarded, for Federal gift tax…
2Cases cited8 opinions
- Schowalter v. SchowalterSupreme Court of Alabama · 1930
- Ingalls v. IngallsSupreme Court of Alabama · 1951
- Smith v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1942
- Edmonson v. First Nat. Bank of BirminghamSupreme Court of Alabama · 1951
- Estate of Regina L. Herrmann, Deceased, G. C. Herrmann, Independent v. Commissioner of Internal Revenue, George C. Herrmann v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1956
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3Cited by7 opinions
- Fay v. PerlesDistrict Court, District of Columbia · 2014
- Van Den Wymelenberg v. United StatesDistrict Court, E.D. Wisconsin · 1967
- In re the United States ex rel. Smithsonian InstitutionDistrict Court, District of Columbia · 1980
- In Re Durosko Marital TrustDistrict of Columbia Court of Appeals · 2004
- Petition of US on Behalf & for Ben. of Smithson.District Court, District of Columbia · 1980
2 more not listed; retrieve them via the Exa API.